7 ESR Group Limited Interim Report 2024 Notes: 8. Net debt is calculated as bank and other borrowings less cash and bank balances * EBITDA, Adjusted EBITDA and Adjusted PATMI are non-IFRS measures. These measures are presented because the Group believes they are useful measures to determine the Group’s financial condition and historical ability to provide investment returns. EBITDA, Adjusted EBITDA, Adjusted PATMI and any other measures of financial performance should not be considered as an alternative to cash flows from operating activities, a measure of liquidity or an alternative to net profit or indicators of the Group’s operating performance on any other measure of performance derived in accordance with IFRS. Because EBITDA, Adjusted EBITDA and Adjusted PATMI are not IFRS measures, these may not be comparable to similarly titled measures presented by other companies. Refer to non-IFRS measures reconciliation in page 107 Balance Sheet (US$ million) FY2021 FY2022 FY2023 1H2024 Total assets 9,338 16,199 16,191 15,859 Cash and bank balances 1,638 1,807 1,002 1,064 Bank and other borrowings 4,248 5,497 5,980 6,191 Net debt8 2,610 3,690 4,978 5,127 Net debt/total assets 27.9% 22.8% 30.7% 32.3% FY2023 5795 1H2024 1745 FY2021 244 FY2022 713 1H2023 403 136 267 1H2024 254 FY2023 554 1H2023 267 1H2024 254 FY2021 24 FY2022 76 1H2023 78 1H2024 80 FY2023 81 FY2023 737 1H2023 329 136 193 FY2021 199 FY2022 5685 FY2021 228 FY2022 510 Fund Management EBITDA (US$ million) Fee Income4 (ex. promote fees) (US$ million) Fee-related AUM1,2 (US$ billion) Fee Income4 (US$ million) Promote fees Promote fees
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